ATMs lose their charm in Chile

“A very public and acrimonious row has emerged in Chile. On the one hand are private retail banks. On the other hand are 16 million consumers and the government. The latter claim that an 11 percent reduction in the ATM stock (or a fall of 1,100 machines from its peak of 9,300 devices in 2012), fails to meet the demand for out-of-hours access to cash. The latest move in this row has seen the Superintendencia de Bancos e Instituciones, the bank regulator, threatening to introduce a requirement for 95 percent “uptime” for all ATMs. Other recent measures include rules that set specific time periods for the replacement of damaged or stolen machines, with hefty fines for those who fail to meet new guidelines…”. http://www.atmmarketplace.com/articles/atms-lose-their-charm-in-chile/